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Guarantee Insurance for Insuring Yacht Security Deposits

Charter yachts usually have fully comprehensive hull insurance. The charter company and its insurance company will usually have agreed a deductible (retention) payable in the event of damage occurring.

The deductible normally corresponds to the security deposit paid by the charterer.

If damage is sustained by the yacht during the sailing trip, the charter company is entitled to retain all or part of the security deposit paid. This guarantee insurance for charter security deposits cover this financial risk. Our insurance for charter deposits does not require payment of a deductible.

The maximum amount of the insurer`s guarantee payment is limited to the security deposit actually paid. Deposits over € 5,000.-- (maximum guarantee amount) cannot be insured. The deposit sum insured may not be less than the actual deposit paid.